AQA LAW4 economic loss notes

When loss is financial rather than physical, liability is more limited ­ `floodgates'Ultramares v Touche ­ allowing claims for pure economic loss would lead to liability `in an indeterminate amount, for an indefinite timeand to an indeterminate class' ­ open the floodgates to claims!There is a distinction between economic loss and pure economic loss ­ where there is a claim for money, no physical damage = pure economic lossGeneral principle = pure economic loss is not recoverable (Weller v Foot and Mouth) It can be recovered if it is dependent on damage to property or other physical injury (Spartan Steel and Alloys v Martin)